Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) per Share

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Net Income (Loss) per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Income (Loss) per Share Net Income (Loss) per Share
In periods in which the Company reported net income, net income attributable to common stockholders is computed using the two-class method as the Founder Shares are classified as participating securities containing rights to receive dividends. In accordance with the two-class method, a portion of net income is allocated to participating securities and excluded from the calculation of income allocated to common stock.
Basic net income (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted average shares outstanding during the period. Diluted net income (loss) per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of potential common shares, determined using the treasury stock
method. Basic and diluted net income (loss) per share attributable to common stockholders are calculated as follows (in thousands, except share and per share amounts):
Three Months Ended June 30, Six Months Ended June 30,
2024 2023 2024 2023
Net income (loss) $ 3,462 $ (66,754) $ (8,182) $ (95,363)
Reallocation of net income attributable to participating securities (41) — — —
Net income (loss) attributable to common stockholders – basic and diluted $ 3,421 $ (66,754) $ (8,182) $ (95,363)
Denominator:
Weighted average common shares outstanding – basic 156,473,080 148,882,160 154,774,899 147,664,534
Weighted average effect of potentially dilutive securities:
Stock options 13,047,919 — — —
Restricted stock units 1,940,411 — — —
Finback Common Stock Warrants 102,533 — — —
Total potentially dilutive securities 15,090,863 — — —
Weighted average common shares outstanding – diluted 171,563,943 148,882,160 154,774,899 147,664,534
Net income (loss) per share attributable to common stockholders - basic $ 0.02 $ (0.45) $ (0.05) $ (0.65)
Net income (loss) per share attributable to common stockholders - diluted $ 0.02 $ (0.45) $ (0.05) $ (0.65)
The following potentially dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:
Three Months Ended
June 30,		 Six Months Ended
June 30,
2024 2023 2024 2023
Options issued and outstanding 7,237,746  22,340,997  21,681,791 22,340,997 
Public Warrants to purchase common stock 14,324,893  14,324,893  14,324,893  14,324,893 
Warrants to purchase common stock (Finback) —  1,590,984  117,423  1,590,984 
Unvested restricted stock units 8,843,186  12,451,740  16,117,388  12,451,740 
Unvested performance stock units —  407,000  —  407,000 
Earn-out shares* 15,000,000  15,000,000  15,000,000  15,000,000 
Contingently issuable common stock* 1,897,500  1,897,500  1,897,500  1,897,500 
47,303,325  68,013,114  69,138,995  68,013,114 
*Issuance of Earn-out shares and Contingently issuable common stock is contingent upon the satisfaction of certain conditions, which were not satisfied by the end of the period